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Jan 5, 2010 5:00am EST
, if it indeed does go through. number one it cuts to the medicare advantage reimbursement and that is likely to be included in a final bill. what does it mean for companies and individuals? >> right. so to fund this whole proposal there has to be cuts somewhere or revenue generation. and one of the big places for the cut is the medicare advantage and what this means is it primarily is going to impact the senior folks who are out there in these medicare advantage programs which are different from your typical medicare program in there are much more choices, more options, because of those more choices and options that causes higher cost. so win way to reduce a tremendous amount of cost is to remove this program. now, that will impact the seniors out there who like those choices, they will have less choices but it is one of the sacrifices that the lawmakers have decided as far as how to pay for reform. >> and is this a big negative for insurance companies too? >> it is not -- it depends. each insurance company has a different amount of exposure to medicare advantage. we talked about wellpoint a
Jan 6, 2010 5:00am EST
of medicare part d drug costs. medicare part d drug costs right now are reimbursed up to a certain rate and then not reimbursed until you reach another point. >> so it helps seniors pay for those drugs when they reach that gap in coverage. >> right that donut hole is where that 30 billion is going to go towards. the remaining $50 billion will increase rebates to government payers and industry fees the industry as a whole will have to pay. >> on the one hand, big pharma is paying the extra fees but on the other hand they will be making money because more people will being forced to get coverage. >> exactly. there is two sides of this. while big pharma will have to pay the $80 billion over 10 years, there is a huge influx of new folks with insurance, approximately 10 to 12% new people buying drugs. >> so what is the estimate that big pharma could make out 6 this? >> we estimate over the next 10 year it is could be approximately 100 billion. you look at 80 billion they will be charged and the 100 billion they will bring in, it is a net profit of about 20 billion. >> over 10 years. >> over
Jan 4, 2010 5:00am EST
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Search Results 0 to 2 of about 3